Category Archives: Real Estate News

A lender disposed of a pair of foreclosed medical office buildings in Boynton Beach, resulting in a $4.35 million loss to a loan fund, according to Trepp LLC. U.S. Bank, representing a commercial mortgage-backed securities (CMBS) trust, won a $10.5 million foreclosure judgement in March against El Clair Ltd., managed by Kerry A. Greenwald in…

A mixed-use project just north of South Beach’s famous and heavily trafficked Lincoln Road Mall broke ground after the developer scored a $17 million construction loan. SunTrust Bank awarded the mortgage to 1664 Lenox LLC, an affiliate of Miami Beach-based UIA Management led by President Robert S. Wennett. The developer recently started construction of a…

A company headed by broker and developer Michael Comras has proposed a retail building plus parking near the gateway to South Beach. On Sept. 27, the Miami Beach Planning Board will consider the application MAC 1045 5th ST LLC and MAC 1031 5th ST LLC. Both companies are owned and managed by Comras, the head…

A developer wants to build a mixed-use building on South Beach featuring retail and office space. The Miami Beach Planning Board will consider the application by Alton Sobe LLC on Sept. 27. The project would be on the 20,000-square-foot vacant lot at 929 Alton Road. Designed by IDEA Architecture, the five-story building would total 29,566…

The CVS development site in Little Havana (Inset: Henry Torres) With Henry Torres’ Astor Companies as its sponsor, CVS is building a new store in East Little Havana — and it’s already up for sale at $17.1 million. Construction is now underway for the retailer’s new 15,000-square-foot location at 711 Southwest 57th Avenue. Torres told…

Rendering of Mana Wynwood (Inset from left: Moishe Mana, David Polinsky and Joe Furst) Another Wynwood Business Improvement District meeting to discuss “11th hour” changes to a negotiated agreement with Moishe Mana in connection with his grand plans for a massive arts-focused commercial district in the neighborhood ended the same way as a discussion last…

CVS pharmacy broke ground on a new store on the west side of Miami. Miami-based Ocean Bank granted an $11.5 million, five-year mortgage to Astor 57th LLC, an affiliate of Coral Gables-based Astor Property Holdings led by President Henry Torres. It covers the 1.5-acre site on the east side of Southwest 57th Avenue from Southwest…

The majority of Florida construction firms are struggling with a workforce shortage, especially for project managers, according to a new survey by the Associated General Contractors of America (AGC). The group surveyed nearly 1,500 firms across the nation about their construction workforce needs. Labor availability is especially important in South Florida because it’s one of…

Co-working space provider WeWork will occupy 62,000 square feet of Brickell City Centre’s second new office building in Miami. The New York-based company signed a lease for four of the 12 floors at Two Brickell City Centre, which will total 130,000 square feet and is currently under construction. This will be WeWork’s third location in…